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There are many different strategies to trade stocks and one of them is to find insider trading of stocks. When corporate insiders trade in their own securities, they must report their trades to the Securities and Exchange Commission (SEC), usually within a few business days of the trade. Insider trading cannot be based on material non-public information. However, many investors believe that corporate insiders may have better insights into the growth of a company and its proceedings.

In this article, I will focus on notable insider buy transactions (market cap greater than $250 million) filed at the Securities and Exchange Commission on October 16, 2012. I have also included the key financial metrics for the first three companies. You can use this list as a potential starting point for your analysis.

Definition of Insider: Corporate insiders are either a company's officers, directors, or any beneficial owners of more than ten percent of a class of the company's equity securities registered under Section 12 of the Securities Exchange Act of 1934.

1. Intercept Pharmaceuticals Inc (ICPT): Intercept Pharmaceuticals is a development stage biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat chronic liver diseases utilizing proprietary bile acid chemistry. Intercept Pharmaceuticals has a market cap of $309.48 million and is currently trading around $6.02 with a 52-week range of $18.56 to $20.40. The stock has gained 0.46% year to date.

According to an SEC filing on October 16, 2012, Intercept Pharmaceuticals had three insiders combine purchased a total of 1,366,668 shares at a total value of $20,500,020. Please refer the footnotes from Form 4 for more information on the ownership. Over the past three months, there have been a total of one insider buy transaction. Key financial metrics for Intercept Pharmaceuticals is given below:

The following chart provides the insider trading summary for a three-month and 12-month period.

2. ViaSat Inc (VSAT): ViaSat provides fixed and mobile broadband services, and satellite and wireless networks, as well as secure networking systems, products, and services for government and commercial customers worldwide. ViaSat has a market cap of $1.72 billion and is currently trading around $39.51 with a 52-week range of $33.09 to $49.80. The stock has fallen 14.33% year to date.

According to an SEC filing on October 16, 2012, Fpr Partners LLC (Beneficial Owner) purchased a total of 200,000 shares at a total value of $7,919,860. Please refer the footnotes from Form 4 for more information on the ownership. Over the past three months, there have been a total of 29 insider transactions with 11 Buy transactions. Key financial metrics for ViaSat is given below:

The following chart provides the insider trading summary for a three-month and 12-month period.

3. Janus Capital Group Inc (JNS): Janus Capital Group is a publicly-owned asset management holding company with approximately $167.7 billion in assets under management. It also provides retirement planning, investment planning, tax planning, investment for college, and tax planning services to its clients. Janus Capital Group has a market cap of $1.68 billion and is currently trading around $8.98 with a 52-week range of $5.76 to $9.70. The stock has gained 42.31% year to date.

According to an SEC filing on October 16, 2012, Dai Ichi Life Insurance Co., Ltd. (Beneficial Owner) purchased a total of 800,000 shares at a total value of $7,128,191. Over the past three months, there have been a total of 27 insider transactions and all of them are Buy transactions. Key financial metrics for Janus Capital Group is given below:

The following chart provides the insider trading summary for a three-month and 12-month period.

Other notable insider buy transactions (minimum transaction value of $200,000) filed with the SEC on October 16, 2012, are as follows:

4. Tronox Limited (TROX): Tronox Limited produces and markets titanium ore and titanium dioxide in the Americas, Europe, and the Asia-Pacific. Tronox Ltd has a market cap of $2.84 billion and is currently trading around $22.66 with a 52-week range of $20.25 to $38.00. The stock has fallen 84.43% year to date. According to an SEC filing on October 16, 2012, Casey Thomas (Chairman, CEO) purchased a total of 119,971 shares (Common Stock Class A) at a total value of $2,999,994. Please refer the footnote from Form 4 for more information on this transaction.

5. Cracker Barrel Old Country Store Inc (CBRL): Cracker Barrel Old Country Store engages in the development and operation of the Cracker Barrel Old Country Store restaurant and retail concept in the United States. Cracker Barrel has a market cap of $1.59 billion and is currently trading around $67.17 with a 52-week range of $38.96 to $69.30. The stock has gained 32.49% year to date. According to an SEC filing on October 16, 2012, Biglari, Sardar (Beneficial Owner) purchased a total of 34,000 shares at a total value of $2,266,765. Please refer the footnotes from Form 4 for more information on the ownership.

6. NexPoint Credit Strategies Fund (NHF): NexPoint Pyxis Credit Strategies Fund, formerly Pyxis Credit Strategies Fund, is a non-diversified, closed-end management investment company. NexPoint Credit Strategies Fund has a market cap of $435.03 million and is currently trading around $13.74 with a 52-week range of $5.98 to $7.56. The stock has fallen 0.73% year to date. According to an SEC filing on October 16, 2012, NexPoint Credit Strategies Fund had two insiders combine purchased a total of 148,954 shares at a total value of $1,020,618.

7. PIMCO Corporate & Income Opportunity Fund (PTY): PIMCO Corporate & Income Opportunity Fund (the Fund), formerly PIMCO Corporate Opportunity Fund, is a closed-end exchange traded investment company. The Fund seeks total return through a combination of current income and capital appreciation. PIMCO Corporate Opportunity Fund has a market cap of $1.40 billion and is currently trading around $20.42 with a 52-week range of $16.08 to $20.67. The stock has gained 17.56% year to date. According to an SEC filing on October 16, 2012, Gross William H (Co-Chief Investment Officer of PIMCO and member of PIMCO's Executive Committee) purchased a total of 26,500 shares at a total value of $537,870. Please refer the footnotes from Form 4 for more information on the ownership.

8. PIMCO Corporate & Income Strategy Fund (PCN): PIMCO Corporate & Income Strategy Fund (the Fund), formerly PIMCO Corporate Income Fund, is a closed-end exchange traded management investment company. The Fund seeks high current income, with a capital preservation and appreciation. PIMCO Corporate Income Fund has a market cap of $679.11 million and is currently trading around $18.1 with a 52-week range of $14.45 to $19.17. The stock has gained 13.48% year to date. According to an SEC filing on October 16, 2012, Gross William H (Co-Chief Investment Officer of PIMCO and member of PIMCO's Executive Committee) purchased a total of 28,184 shares at a total value of $511,004. Please refer the footnotes from Form 4 for more information on the ownership.

9. Mercer International Inc (MERC): Mercer International engages in the manufacture and sale of northern bleached softwood kraft (NBSK) pulp primarily in North America, Europe, and Asia. Mercer International has a market cap of $424.23 million and is currently trading around $7.6 with a 52-week range of $5.05 to $8.80. The stock has gained 24.59% year to date. According to an SEC filing on October 16, 2012, Kellogg Peter R (Beneficial Owner) purchased a total of 58,750 shares at a total value of $439,291. Please refer the footnotes from Form 4 for more information on the ownership.

Source: Some of the data is sourced from Google Finance, Nasdaq, Finviz, Fidelity, Morningstar and SEC.gov.

Source: Insiders Bought These Shares On October 16

Additional disclosure: I change my positions very frequently and may initiate either long or short positions in the above mentioned stocks at any time.